Antoine Walker, a former NBA player and current analyst for ESPN’s The Jump, gives some money-losing and earning tips to the rookies. For those looking to invest in something other than stocks or bonds, he recommends high yield investments such as cryptocurrencies like Bitcoin.
Antoine Walker, a retired NBA player, gives spending advice to the NBA rookies. He states that the best and worst investments are stocks and real estate.
Coming into the NBA might be intimidating, since rookie contracts provide ridiculously large sums of money. These are huge sums of money for a 19-year-old, which is why Antoine Walker has some advise for the next generation of athletes.
Walker, astonishingly, is the finest person to listen to when it comes to financial management since he understands what it’s like to lose everything and have to start again. Despite earning over $108 million throughout his NBA career, the former NBA great was broke two years after leaving the league.
Walker gave some advice to young people in an interview with TMZ Sports so they don’t wind up like him.
TMZ: These are actual youngsters poised to become multi-millionaires. What advise would you provide to them?
Walker: I believe, for now, you should enjoy the night. Simply said, you must plan and assemble the best team possible. Make sure you have the proper financial adviser and the right people to help you make some difficult choices, because you’re going to be a billionaire. Many of these men will become millionaires tonight, and they must be prepared for the hardships and tribulations that will inevitably follow.
What should they get, according to TMZ? What should they avoid purchasing? Is there anything you’d advise them to invest in financially?
Walker: I believe it is difficult to advise them on what they should or should not purchase. The most important thing, I believe, is that you clearly want to look for your family and do things for them. But make sure they’re good first, the parents and fathers, because they’re the ones that raised you, so I believe it’s a good idea to put them in a better situation.
TMZ: So, you’re saying you should take care of the people before you take care of yourself?
Walker: Look after your family first, and they’ll figure it out. They know, most of these boys know, who has always been there for them, who has always supported them throughout their lives as teenagers.
TMZ: In terms of automobiles, what would you recommend? Should they start with a car? Is this a home? What would you suggest?
Walker: It’ll be a house if it comes down to it.
TMZ: Do you have a house? And what about the car? Don’t opt for the most expensive one since autos depreciate in value.
Walker: Automobiles depreciate, so they aren’t always the greatest investment. The home is an excellent investment since it has some value.
TMZ: What’s the worst investment you’ve ever made? Obviously, which is the greatest and which is the worst?
Walker: The worst investment I’d say has been vehicles; you know, I had a car addiction at one time in my life and purchased a number of cars, which aren’t worth anything.
TMZ: Should the NBA be concerned about these youngsters becoming billionaires so quickly?
Walker: I wouldn’t say I’m worried; I believe you must be prepared. I won’t say I’m anxious because it’s always about being prepared and having the chance to prepare yourself. Being able to play at the top level as a professional is a wonderful thing.
TMZ: So, first and foremost, look after your parents, and then what?
Walker: Obviously, you have to look for yourself.
Walker, thankfully, was able to stay on the straight and narrow and rebounded back in less than three years. While we can’t determine whether he’s made back what he’s lost, he seems to be living well.
As a consultant at Edyoucore, a financial literacy firm, the former NBA star now helps players manage their money. Accepting that your life may appear different than it did in the past is the most important lesson in rebuilding.
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